The Trade Desk, Inc. (NASDAQ:TTD) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in The Trade Desk, Inc. (NASDAQ:TTD) by 16.1% during the 4th quarter, HoldingsChannel reports. The fund owned 145,223 shares of the technology company’s stock after acquiring an additional 20,121 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Trade Desk were worth $17,068,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of TTD. Rialto Wealth Management LLC acquired a new stake in Trade Desk during the fourth quarter valued at approximately $26,000. Harbor Investment Advisory LLC raised its stake in Trade Desk by 68.8% during the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock valued at $34,000 after buying an additional 117 shares in the last quarter. Synergy Asset Management LLC acquired a new stake in Trade Desk during the fourth quarter valued at approximately $34,000. Midwest Capital Advisors LLC acquired a new stake in Trade Desk during the fourth quarter valued at approximately $34,000. Finally, Exchange Traded Concepts LLC acquired a new stake in Trade Desk during the fourth quarter valued at approximately $35,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

Insider Buying and Selling

In other news, insider Samantha Jacobson sold 4,298 shares of the firm’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total value of $509,570.88. Following the completion of the sale, the insider now owns 90,709 shares of the company’s stock, valued at $10,754,459.04. This trade represents a 4.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jeffrey Terry Green sold 18,207 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total value of $2,283,886.08. Following the completion of the sale, the chief executive officer now directly owns 704,229 shares of the company’s stock, valued at approximately $88,338,485.76. This trade represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,029 shares of company stock worth $5,004,296 in the last three months. 9.72% of the stock is currently owned by insiders.

Trade Desk Stock Performance

Shares of NASDAQ:TTD opened at $60.20 on Thursday. The company has a market capitalization of $29.86 billion, a PE ratio of 77.18, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63. The stock has a fifty day moving average of $101.57 and a 200-day moving average of $112.58. The Trade Desk, Inc. has a one year low of $57.86 and a one year high of $141.53.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.21). Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. As a group, research analysts forecast that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk announced that its board has initiated a share repurchase plan on Wednesday, February 12th that permits the company to buyback $564.00 million in shares. This buyback authorization permits the technology company to reacquire up to 0.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TTD. Evercore ISI cut Trade Desk from an “outperform” rating to an “inline” rating and dropped their price target for the stock from $135.00 to $90.00 in a research report on Thursday, February 13th. Cantor Fitzgerald dropped their price target on Trade Desk from $115.00 to $100.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Piper Sandler reiterated an “overweight” rating and set a $110.00 price target (down from $140.00) on shares of Trade Desk in a research report on Thursday, February 13th. Needham & Company LLC reiterated a “buy” rating and set a $145.00 price target on shares of Trade Desk in a research report on Friday, March 7th. Finally, New Street Research upgraded Trade Desk from a “sell” rating to a “neutral” rating and increased their price target for the stock from $85.00 to $115.00 in a research report on Monday, November 25th. Six research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Trade Desk currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.45.

Trade Desk Profile

The Trade Desk, Inc operates as a technology company in the United States and internationally. The company offers a self-service cloud-based platform that allows buyers to plan, manage, optimize, and measure data-driven digital advertising campaigns across various ad formats and channels, including video, display, audio, digital-out-of-home, native, and social on various devices, such as computers, mobile devices, televisions, and streaming devices.